All Forum Posts by: Timothy Jacobson

That's a good idea and I have thought about it. I'm just not too sure on how to do it and what the potential legal costs would be. I suppose I could do that if rates under my name were considerably less.

Good afternoon. I have a couple properties (one a 2-family and one a SFR that we rent to college students) that are under an LLC and are currently mortgaged (for about 2 years) at an interest rate of 6.5%. At this time, is it possible to get an interest rate where is would make sense to refinance (at most, 4.5-5%)? I've heard a lot of different things... Also, any recommendations of brokers or lenders would be great!

Hello, I would like to request access.

I appreciate the responses, gents!

Evening all!

I've been noticing the real estate market in Connecticut getting a little flooded. Going back to my Marine Corps roots, I spoke with an old marine buddy of mine who suggested scoping out his (and my former) neck of the woods - Onslow County, Camp Lejeune, Stone Bay, Swansboro, Hubert, Richlands, Surf City, Topsail and the southern Outer Banks. We are interested in doing some flips and new construction. Is there enough going on down there to make a profit?

Tim

Good evening all. We are Connecticut investors  in the business of buying mulit-family residential properties (2-4), rehabbing and renting them or just simply flipping. 

I am curious, from a bank/lenders viewpoint, what looks better to them in terms of obtaining a loan or a line of credit - showing solid profits (or no profits), or a healthy balance sheet? I am investigating if it would be advantageous for us to reduce our tax liability (decrease profits). Obviously, as individuals, we would like this, but I'm not sure if that will make us look weaker as a borrower. Or, if we have a solid balance sheet, would our Profit and Loss Statement even matter as much?

Tim

Gorgeous turnkey two family home in historic Wallingford. Over a third of an acre, one block from the lovely center of town. Across the street from Choate Rosemary Hall (so you know property value will never go down!) Built in 1905, owner or renter will enjoy the well maintained high ceilings, wide doors, and shared front porch. Each of two units are Turnkey, three bedrooms, 1.5 bath, townhouse style. 1100 square feet each, with a shared basement, with significant rental cash flow. Separate furnaces, oil tanks, laundry hookups, and electrical. New Sewer! Off street parking for 5 vehicles and the long yard has plenty of green space, nice gardens and nicer privacy. Large unfinished attic for potential upgrade to 3 family. Easy commuting to New Haven or Hartford : within 1 mile of 15, within 1 mile to train station, 2 miles to 91. Expecting multiple offers, only putting on market for a limited time.

@Manny Cirino We did a flip in New Britain right next to a cemetery that was very successful for us. The way we saw it is that you can guarantee quiet neighbors. This was actually our first flip and we carried on as we normally would have - made the property nice and appealing to a potential buyer. We garnered lots of attention from potential buyers and even sold the property for a better price than had been recommended to us by our real estate broker (but due to the condition and location of the property, and probably not related to the fact it was right next to a cemetery). 

Thanks @Chris Mason. Nice to see another jarhead on here. I'm going to continue my research.

@Jeff Dulla - Our time table is as soon as possible, and under the supposed "6 month seasoning". I say as soon as possible (as I'm sure everyone days) because it would help us move at a faster pace. Currently, we have one property which we have owned (cash) for 4.5 months and another we recently purchased (also cash). With the most recent property, we would like to cash-out refinance in about 2-3 months or so.